| CATEGORY: SMALL CAPS NEWS SECTOR: MEDIA |
Incisive splashes out on conference group |
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Tue 02 Aug 2005
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LONDON (SHARECAST) - Financial magazine publisher Incisive Media has stumped up more than £24m for conference group Search Engine Strategies and placed over 8m shares to raise in excess of £12m.
The company said it will pay for the deal through the sale of shares to institutions at 150p each to raise £12.3m, with the balance financed through increased debt facilities.
SES, owned by Jupitermedia, operates a series of international informational and learning events on search engine marketing and optimisation that have been sponsored by big names such as Google, Yahoo and MSN Search.
Incisive announced the move alongside an update for the six months to 30 June in which it said trading for the current year remains in line with market expectations, with bosses confident about the future growth prospects.
The group added that it is also in exclusive discussions with Global Professional Media Ltd to acquire approximately 80% of GPM it does not already own for some £5.7m in cash.
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